Gulf International Bank UK Ltd Boosts Stock Holdings in The Descartes Systems Group Inc. $DSGX

Key Points

• Gulf International Bank UK Ltd increased its stake in The Descartes Systems Group by 2,236.2% in Q1, owning 4,906 shares valued at $495,000.
• Hedge funds control 77.73% of the stock, with several firms significantly boosting their positions recently.
• Analysts provide mixed ratings, with the consensus suggesting a "Moderate Buy" and an average price target of $122.18.

Gulf International Bank UK Ltd lifted its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX - Free Report) TSE: DSG by 2,236.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,906 shares of the technology company's stock after acquiring an additional 4,696 shares during the quarter. Gulf International Bank UK Ltd's holdings in The Descartes Systems Group were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of DSGX. NBC Securities Inc. purchased a new position in The Descartes Systems Group in the first quarter valued at $25,000. GeoWealth Management LLC increased its holdings in The Descartes Systems Group by 63.2% in the fourth quarter. GeoWealth Management LLC now owns 341 shares of the technology company's stock valued at $39,000 after buying an additional 132 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in The Descartes Systems Group in the first quarter valued at $49,000. Optiver Holding B.V. purchased a new position in The Descartes Systems Group in the fourth quarter valued at $66,000. Finally, Johnson Financial Group Inc. increased its holdings in The Descartes Systems Group by 830.9% in the fourth quarter. Johnson Financial Group Inc. now owns 875 shares of the technology company's stock valued at $101,000 after buying an additional 781 shares during the last quarter. Hedge funds and other institutional investors own 77.73% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on DSGX. Royal Bank Of Canada dropped their target price on The Descartes Systems Group from $130.00 to $126.00 and set an "outperform" rating on the stock in a report on Thursday, June 5th. Wall Street Zen downgraded shares of The Descartes Systems Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Morgan Stanley started coverage on shares of The Descartes Systems Group in a research note on Monday, July 14th. They issued an "equal weight" rating and a $110.00 price objective for the company. Finally, Barclays decreased their price objective on shares of The Descartes Systems Group from $118.00 to $108.00 and set an "equal weight" rating for the company in a research note on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $122.18.

The Descartes Systems Group Trading Up 1.4%

Shares of DSGX traded up $1.4310 during mid-day trading on Friday, hitting $100.4810. 135,351 shares of the company's stock were exchanged, compared to its average volume of 344,257. The Descartes Systems Group Inc. has a fifty-two week low of $92.00 and a fifty-two week high of $124.31. The firm has a market capitalization of $8.63 billion, a P/E ratio of 60.59 and a beta of 0.81. The business's 50 day moving average is $102.28 and its two-hundred day moving average is $105.44.

The Descartes Systems Group (NASDAQ:DSGX - Get Free Report) TSE: DSG last announced its earnings results on Wednesday, June 4th. The technology company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). The Descartes Systems Group had a return on equity of 10.53% and a net margin of 21.67%.The business had revenue of $168.74 million for the quarter, compared to analyst estimates of $169.60 million. During the same quarter last year, the company posted $0.40 EPS. The Descartes Systems Group's quarterly revenue was up 11.5% on a year-over-year basis. On average, equities research analysts forecast that The Descartes Systems Group Inc. will post 1.64 earnings per share for the current year.

About The Descartes Systems Group

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.